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Corvus Energy as one of the NCE Maritime CleanTech companies to showcase at the Nor-Shipping Disruptive Sustainability Hall

http://www.nor-shipping.com/press-release-nce-maritime-cleantech-companies-flock-shipping-disruptive-sustainability-hall/

Press release: NCE Maritime CleanTech companies flock to Nor-Shipping Disruptive Sustainability Hall

Seven of the key players in the Norwegian Centres of Expertise (NCE) Maritime CleanTech cluster have signed up for Nor-Shipping 2017’s ground-breaking Disruptive Sustainability exhibition hall.

Bostek, Corvus Energy, NorthSea Container Line, Servogear, The Switch Norway, Wärtsilä and Westcon Power & Automation will all showcase their abilities in a unique space that aims to challenge convention and embrace innovation, priming the industry to tackle the challenges and opportunities that lie ahead.

Nor-Shipping, the leading maritime event week, taking place across a series of venues in Oslo and Lillestrøm from 30 May to 2 June, has dedicated the whole of its Hall A to the concept. In doing so it hopes to open the industry door to new ways of thinking, working together and innovative technologies – taking ideas and influence from outside arenas, such as the tech and business sectors, and building a platform for fresh collaborations.

According to Sofia Fürstenberg, Nor-Shipping’s Project Manager for Disruptive Sustainability, NCE Maritime CleanTech is the perfect partner for this new philosophy.
“This cluster, situated on the West Coast of Norway, is a global leader in developing energy-efficient and environmentally friendly technologies that have the potential to transform sea transportation,” Fürstenberg notes. “Through a unique collaborative approach, where there is a cross fertilisation of ideas and opportunity, they arrive at solutions that impact upon every link in the maritime value chain, from subsea, to marine and throughout the energy sector.

“They will deliver a range of memorable takeaways for the 35,000 people that visit Nor-Shipping, showcasing green hybrid and electric solutions, alongside technology that enables increased digitalisation and the shift towards autonomy. For us, this cluster, which won the prize as Norway´s leading innovation environment in 2016, encapsulates the concept, opportunity and huge benefits of Disruptive Sustainability.”

NCE Maritime CleanTech will join a range of high profile exhibitors that have already booked their place in the 1245 sq. m hall, including DNV GL, DNB and Siemens. Billed as a dark, immersive and uniquely engaging space, it’s an experience that Hege Økland, CEO of NCE Maritime CleanTech, is looking forward to.
“This concept is perfect for our cluster,” she comments. “We intend to showcase sustainable solutions that disrupt industry norms, pointing the way towards new possibilities for the future maritime sector.”

“Cluster collaboration is decisive for green innovation. We represent companies that have developed the first zero-emission car ferry in the world, the first hybrid-OSV, and, later this year, a new solution for inductive charging. And that’s just mentioning a few of our collective achievements. ‘Seeing is believing’ and at Nor-Shipping we aim to present our ground-breaking solutions in a way that will inspire, engage and connect with today’s, and tomorrow’s, key maritime players.”

Alongside Hall A, Nor-Shipping offers a further five themed halls, covering the full spectrum of maritime products, services and solutions. In total, almost 1,000 companies will be showcasing themselves to the industry, future talent and shipping value chain stakeholders.

Nor-Shipping is also presenting a diverse and powerful speaker and event line-up, with a packed programme of business and social gatherings across city centre Oslo and its facilities in Lillestrøm.

Nor-Shipping 2017
Nor-Shipping 2017 takes place in Oslo and Lillestrøm, Norway, from 30 May to 2 June 2017.

The main exhibition features five themed halls:
Disruptive Sustainability in Hall A
IT & Navigation in Hall B
Safety & Rescue in Hall C
Shipbuilding & Repair in Hall D
Maritime Services & Logistics in Hall E
Propulsion & Machinery in Hall E

A full programme of events, initiatives and keynote speakers will be released on the Nor-Shipping website soon http://www.nor-shipping.com

For further information please contact:
Birgit M. Liodden
Director Nor-Shipping
Tel.: +47 95 17 13 89
Mail: bml@nor-shipping.com

Per Martin Tanggaard
Exhibition Director Nor-Shipping
Mobile: +47 97 76 77 45
Email: pmt@nor-shipping.com
Sofia Fürstenberg
Project manager – Disruptive Sustainability
Mobile: +45 40 19 02 34
Email: disruptive@nor-shipping.com

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AAM Wins Hybrid Passenger Vessel Contract

AAM Wins Hybrid Passenger Vessel Contract

MarineLink
February 13, 2017
All American Marine, Inc. (AAM), inked a deal for the construction of a new hybrid electric passenger vessel to be delivered to the Red and White Fleet of San Francisco, California.  The contract for the new 600 passenger aluminum monohull was signed during the recent annual Maritrends Conference put on by the Passenger Vessel Association.
AAM’s latest contract follows an earlier announcement made by the company regarding a construction agreement for a 500 passenger aluminum monohull tour boat for Argosy Cruises of Seattle, WA.  Both operators were originally pursuing construction contracts for steel monohulls, but AAM was successfully able to demonstrate considerable savings in construction and maintenance costs with an aluminum design, while ensuring delivery of a robust and solid hull structure.  These contracts bode well for AAM, which is celebrating its 30th anniversary and is in the process of moving into a brand new purpose-built ship building facility at nearby Squalicum Harbor.  Argosy will take delivery of their vessel in the late fall and the Red and White Fleet will receive their new craft in the late spring of 2018.
The new vessel for Red and Fleet, to be christened, Enhydra, will be the first aluminum hulled, Lithium-Ion battery-electric hybrid vessel built from the keel up under US Coast Guard subchapter-K passenger vessel regulations and the latest guidelines for structural fire protection.  The vessel will be 128’ long with a moulded beam of 30’ and is specifically designed for harbor tours of San Francisco Bay and the Golden Gate Bridge.  Guests on board Enhydra will be able to experience amazing views of the bay and cityscape from each of the three decks, complete with their own convenient snack bar.  The second level offers a full wrap around viewing deck with access to the enlarged bow foredeck, which is sure to become a favorite photo spot.  The top deck is completely open and offers plenty of outdoor seating for sun soaking or respite from the busyness of the city.
All American Marine partnered with BAE Systems (BAESY) to design and integrate the complete battery electric hybrid system.  BAE Systems will supply their HybriDrive Propulsion System that includes a generator, control system, and AC electric traction motor.  The generator will mount to a variable speed Cummins (CMI) QSL9 410 mhp@2100 rpm diesel engine.  The motor generator offers diesel-electric operation of the AC traction motor which is coupled directly to the propulsion shaft.    With this configuration, torque is immediately available for the propeller and the speed can be precisely controlled without the need for a reduction gear.
The hybrid system will also utilize battery power from two 80 kWh Lithium-ion battery packs.  The batteries will come from Corvus Energy and are supplied under their next generation Orca Energy line.  The BAE HybridDrive system can automatically utilize full electric battery operation at slower speeds and when maneuvering in and out of the harbor.  At higher speeds, the generator will automatically engage and augment the additional power demands of the traction motor.  The battery system is sufficient to meet the entire demand of the vessel’s hotel load while at the same time providing silent and emission-free operation of the propulsion system during an evening sunset cruise.  Red and White Fleet’s Vice President of Operations, Joe Burgard, expressed “We are very pleased with the team All American Marine has put together to deliver this unique vessel and are eager for our guests to experience San Francisco Bay from the silent decks of the Enhydra in 2018. We see the propulsion configuration on the Enhydra as phase one in our move toward the full electrification of our fleet. Stay tuned for phase two.”
 
All American Marine Inc., located on the shores of Bellingham Bay, was founded in 1987 and specializes in the construction of custom tailored aluminum boats.  Today, the company has become a leading builder of high speed passenger catamarans, monohull tour boats, survey craft, and research vessels.  All American Marine is the exclusive builder for Teknicraft Design Ltd. catamarans in North America.
Founded in 1892, the historic Red and White Fleet is legendary for its premier San Francisco Cruises. Family owned, the Red and White Fleet is committed to environmental sustainability and community education as one of the oldest businesses operating in the San Francisco Bay area.
http://www.marinelink.com/news/passenger-contract-hybrid422009?utm_source=MT-ENews-2017-02-13&utm_medium=email&utm_campaign=MT-ENews
New Battery System for Shanghai Port Cranes

New Battery System for Shanghai Port Cranes

The Maritime Executive

ShanghaiShanghai

By MarEx 2017-02-09 18:50:52

Corvus Energy will provide newly-designed lithium-ion energy storage systems for a hybrid rubber-tired gantry crane (RTG) designed by CCCC Shanghai Equipment Engineering.

The new solution, being taken up by Shanghai Zhenhua Heavy Industry, the world’s largest port crane manufacturer, is a smaller, ultra high power, liquid cooled system designed specifically to meet the RTG power requirements more cost effectively.

The first order is destined for Shanghai International Port Group and will be installed in Yidong Terminal, Shanghai.

Unlike conventional diesel electric port cranes, the CCCC hybrid version is powered primarily from the Corvus system resulting in fuel savings of up to 65 percent, says Corvus, with the added benefits of reduced operating costs with less greenhouse gas emissions and lower noise levels at the terminal.

Corvus makes industrial-grade lithium ion batteries that are used for making hybrid and electric ships, offshore drill rigs and port equipment. These batteries are combined into the diesel-electric drive trains of these industrial vehicles. The benefits are similar to the Prius and Tesla cars, (i.e. lower fuel consumption and emissions, better responsiveness and lower maintenance costs), but on a much larger scale because the industrial equipment has greater energy demands and generally work around the clock.

Gantry cranes are typically inefficient, running a diesel genset at full RPMs regardless of how much work they are actually doing. Therefore, during waiting, or low activity periods, a lot of fuel is wasted, says Corvus spokesman Sean Puchalski.

“Also, when they lower the containers, the electric motors spin backwards and generate energy. In a typical crane, this energy is wasted into heat by running it through a large resistor bank. The heat dissipates into the environment.

“Adding the battery helps in two ways: 1) it allows a smaller diesel engine to be installed, which saves fuel; and 2) the battery collects the energy from container lowering, for re-use, instead of wasting it. This improves fuel consumption.”

In addition to battery hybridization, some gantry cranes are being connected to the electrical grid to get completely off diesel gensets. This results in very good fuel cost improvements and also emission reductions, says Puchalski. However, this approach requires a large capital outlay for the electrical distribution and also reduces the mobility of the cranes.

The same types of technology are deployable around the globe. However, there are three main factors spurring the adoption of batteries in port equipment: 1) higher fuel prices; 2) busier ports; and 3) concerns about climate issues. These factors are strongest in China, Northern Europe and California at the moment, and this is where we will see the greatest early adoption, says Puchalski.

WE Tech and Corvus for Stenersen hybrid tanker

WE Tech and Corvus for Stenersen hybrid tanker

The Motorship
03 Feb 2017

Stenersen's hybrid chemical tankers will feature energy storage solutions from WE Tech and Corvus

Stenersen’s hybrid chemical tankers will feature energy storage solutions from WE Tech and Corvus

Norwegian ship owner Rederiet Stenersen is building what are claimed to be the first tankers to feature hybrid electric propulsion, with WE Tech and Corvus Energy set to deliver the energy storage solution.

The owner is building two 17,500dwt chemical tankers (with an option for two more) at Taizhou Kouan Shipbuilding Co in China. The vessels will employ a direct drive permanent magnet shaft generator and an energy storage solution from WE Tech. Power generated through the shaft or supplied from shore connections will be converted to electricity and stored in a Corvus Orca Energy lithium-ion battery pack.

“As far as we are aware, Stenersen is the first company to have installed such equipment on this type of vessels,” said John Stenersen, director ship management, Rederiet Stenersen.

Stenersen noted that WE Tech’s Energy Storage Solution can be used as a spinning reserve to avoid black-out and to decrease the usage of generators on low load during manoeuvring. It can also be used for peak shaving, eliminating the need to start additional generator sets for short increase in loads and ensuring optimal running condition for online generator sets.

“Both situations create us savings from reduced generator running hours,” Stenersen added.

Halvard Hauso, senior vice president business development, Corvus Energy said: “This latest order from WE Tech Solutions shows the viability of energy storage for the hybridization of longer-haul vessels. As the cost of lithium ion batteries continues to improve we will see more and more applications beyond the traditional ferry and tug base.”

The first vessel, newbuild TK1201, is due for delivery in the first quarter of 2018. Steel cutting began on 10 November 2016. The WE Tech and Corvus equipment will be delivered in the second quarter of this year.

– See more at: http://www.motorship.com/news101/engines-and-propulsion/we-tech-and-corvus-for-stenersen-hybrid-tanker#sthash.pYVbodTv.dpuf

First hybrid ferry delivered for West Coast cargo service

First hybrid ferry delivered for West Coast cargo service

Seaspan Swift and Seaspan Reliant expected to reduce emissions by up to 20 per cent

By Deborah Wilson, CBC News

http://www.cbc.ca/news/canada/british-columbia/first-hybrid-ferry-delivered-for-west-coast-cargo-service-1.3907831

Cargo coming to Vancouver Island will soon have a lighter carbon footprint, according to the Richmond, B.C. company that supplied the battery system for North America’s first hybrid LNG and electricity powered cargo ferries.

The Seaspan Swift, which was delivered this month, will operate between the mainland and Vancouver Island.  A second ferry, the Seaspan Reliant, is due for delivery in early 2017.

The battery systems for the two vessels will provide backup power and are expected to cut fuel costs and emissions by 15 to 20 per cent.

Seaspan says it delivers 50 per cent of all cargo transported to Vancouver Island.

Richmond-based Corvus Energy provided the large lithium-ion battery system for the ferry.

Sean Puchalski, a vice president with Corvus Energy, told On the Island host Gregor Craigie that the conventional way of ensuring backup power is to have a second generator running all the time.

“Essentially, the ferry has LNG generators for its main propulsion and then it also has what most people would consider a rather large battery bank that serves mostly in this case as a spinning reserve,” Puchalski said.

“It helps to save fuel and therefore emissions and helps to make the vessel safer by providing backup power if necessary.”

Battery-only ferries in Europe

Hybrid ferries with a battery storage component are becoming more numerous in Europe, Puchalski said.

“There are some battery-only ferries now in Europe but it’s still a new thing, even over there.”

B.C. Ferry Services is also looking towards hybrid technology for its upcoming purchase of new smaller ferries, spokesperson Deborah Marshall said.

BC Ferries seeks hybrid proposals

“We will be looking for a hybrid solution for our new minor class vessels,” Marshall said.

B.C. Ferries plans to replace three minor vessels, the 43 year-old Nimpkish, the 58 year-old North Island Princess and the 52 year-old Howe Sound Queen.

Meanwhile, Marshall said, the first of BC Ferries’ new LNG-powered passenger vessels, the Salish Orca, is en route to the West Coast and passed through the Panama Canal on Sunday.

It is expected to arrive in B.C. in early January, replacing the 51-year-old Queen of Burnaby and providing service between Comox and Powell River.

Marine Propulsion: Energy storage systems gain approval

Marine Propulsion: Energy storage systems gain approval

Thu 17 Nov 2016 – Marine Propulsion – Corvus Energy and Saft have each gained approval for their energy storage units from the Norwegian Maritime Authority (NMA). Corvus said its Orca energy storage system had passed the NMA’s thermal runaway propagation testing, which was witnessed by class society DNV GL. This proves the safety of the storage unit for hybrid or fully electric propulsion systems.

The NMA requires tests to verify that when safety systems are deliberately defeated and thermal runaway of a battery module is induced by overcharging, the thermal runaway is limited to a single module and does not spread to other modules in the battery pack. Corvus demonstrated that Orca was designed with a higher level of fault tolerance by eliminating the possibility of thermal runaway spreading to neighbouring cells within a single module. Corvus executive vice president for sales and marketing Halvard Hauso said Orca had been installed on eight tugs so far. “Our batteries can reduce fuel consumption, can be for peak shaving on a vessel or can be used as back-up to the main propulsion,” he said.

The NMA also approved Saft’s Seanergy marine energy storage system for use in a variety of hybrid and fully electric propulsion applications. This involved thermal runaway tests on new lithium-ion super-phosphate batteries. These passed the test three times with no uncontrolled event and no fire or explosion, with nearby cells remaining in a safe condition and no propagation to neighbouring modules, without any active means of fire suppression.

http://www.mpropulsion.com/news/view,energy-storage-systems-gain-approval_45474.htm

 

Corvus Powered Superyacht ‘Savannah’ Sweeps 2016 Industry Awards

Corvus Powered Superyacht ‘Savannah’ Sweeps 2016 Industry Awards

Feadship Savannah has won the International Superyacht Society award for Best Power 65m+, giving this 83.50-meter custom motoryacht a clean sweep of all the top superyacht industry awards. This superb achievement is a testimony to the visionary owner and his partnership with Feadship and CGDesign in creating the world’s first hybrid motor-megayacht.

The ‘Best Power 65m+’ prize was awarded to Savannah and Feadship at the 26th edition of ISS’s Awards Gala in Fort Lauderdale. The victory was part of an excellent week for the yacht, which was the undoubted queen of the Fort Lauderdale Boat Show. Huge crowds gathered to gaze at her Sea Foam green coating (the largest object ever given a metallic paint livery) and awesome floating superstructure. And there were gasps of admiration too from the guests invited onboard to see Savannah’s extraordinary interior, including her famous semi-submerged Nemo room.

The week in Fort Lauderdale topped off a great year for Savannah, which had previously taken home prestigious Show Boats Design Awards for ‘best exterior’ and ‘best interior’ as well as the ‘holistic award’. Also in the trophy cabinet is the Neptune prize for the World Superyacht Award in her category and, of course, the World Superyacht ‘Motoryacht of the Year’ award.

“Over a thousand specialists were involved in her creation and the phenomenal final result proves that Feadship’s willingness to venture into uncharted waters with adventurous owners always pays dividends. With her hybrid propulsion system offering fuel savings of up to 30%, Savannah is a winner in every respect.” comments Henk de Vries.

ACEL Selects Corvus Energy Orca ESS

ACEL Selects Corvus Energy Orca ESS

MARITIME PROPULSION

Posted by Michelle Howard October 10, 2016

ACEL AS of Norway has ordered an Orca Energy, Energy Storage System (ESS) from Corvus Energy to begin integration testing for uses across multiple maritime applications. Orca Energy is part of the next generation Orca ESS product line from Corvus which is specifically designed for maritime use.
The ACEL Group consists of several companies with strong electrical expertise and professional resources in the field of offshore platform service vessels, including new builds, servicing and conversions. Utilizing Corvus Energy’s Orca ESS solution for the power and propulsion systems will improve efficiency, reduce the exhaust emissions and lower maintenance and capital costs of these vessels.
“We are thrilled to be working with fellow Norwegian organization ACEL and have them as one of our early customers for the new, advanced Orca Energy ESS.” said Roger Rosvold, Norwegian-based sales manager for Corvus. “ACEL is a leading global integrator of systems for the merchant, naval and offshore marine markets and Corvus looks forward to working with them to integrate Orca ESS solutions into their projects.”
“ACEL selected Corvus based on their innovative leadership in the marine ESS market which is proven by the performance capabilities, safety and design of their new Orca ESS,” said Hans-Tore Jenssen, Department Manager Power System, ACEL. “We look forward to utilizing the Orca ESS to add significant value to our marine projects well into the future.”
As the leading manufacturer of energy storage systems for maritime applications, Corvus designed and built the Orca ESS solutions portfolio based on the experience from 50+ projects utilizing a Corvus ESS, totaling over 35MWh and 1 million operating hours. Rather than a single product, the Orca ESS product line delivers a range of products which are designed to meet the needs of various marine customers. Orca Energy is ideal for applications that require large amounts of energy such as ferries and merchant vessels, while Orca Power has been designed for applications that require a seamless response to dynamic power loads such as offshore supply vessels and port equipment.

https://www.maritimepropulsion.com/news/acel-selects-corvus-energy-516655

Norwegian unit is first subsea vessel with batteries

Norwegian unit is first subsea vessel with batteries

Offshore Support Journal: Thursday 06 Oct 2016

Norwegian offshore vessel owner Østensjø Rederi recently took delivery of the offshore construction vessel Edda Freya, which has a hybrid diesel-electric system powered in part by a lithium-ion battery

Intended for operation in the greater North Sea market and utilising an environmentally friendly, fuel-saving diesel-electric hybrid propulsion system from Corvus, Edda Freya was designed with a focus on cablelaying operations, offshore construction and inspection, and maintenance and repair (IMR) operations. Having entered service, Edda Freya first went to work under the terms of a long-term contract with DeepOcean.

In addition to the hybrid battery system Edda Freya’s environmentally friendly credentials are enhanced by the adoption of Siemens’ BlueDrive PlusC concept, which was implemented by Siemens in co-operation with Østensjø Rederi. By using variable rotational speed with optimal operation of the diesel generators in combination with the Corvus ESS, the system will significantly reduce fuel consumption and the emissions of nitrogen oxides (NOx) and greenhouse gases (CO2 and methane). The use of selective catalytic reduction systems further reduces emissions.

Also designed with a focus on excellent manoeuvrability and stationkeeping, the vessel has a vertical lay system (VLS) tower, skidding system for modules on the main deck, a launch and recovery system (LARS) for handling work-class and observation-class remotely operated vehicles (ROVs) and two moonpools for ROV operations. The vessel has 2,300m2 of deck space and is equipped with a 150-tonne dual tensioner VLS located over the moonpool, a 3,000-tonne carousel below deck and a 400-tonne active heave compensated knuckleboom main crane that can lift 600 tonnes in double-fall mode. The vessel’s accommodation capacity is 140 people.

Edda Freya is a dynamic positioning class 3 (DP3) unit of SALT 304 design from Salt Ship Design in Norway and was launched by builder Kleven Verft on 15 August 2015. The vessel was delivered in February 2016 and went straight into the long-term contract with DeepOcean on delivery. DeepOcean had already secured work for the new vessel prior to its delivery on a project with Statoil and Wintershall. This particular project saw Edda Freya selected to install a riser for Statoil’s Kristin and Heidrun platforms in preparation for a possible tieback from Wintershall’s Maria development.

Typical of the projects that the high spec, environmentally friendly unit can undertake is one awarded to DeepOcean Group Holding earlier this year for the provision of engineering, procurement, removal and disposal of the Varg subsea facilities. Awarded to DeepOcean by Repsol, the scope of work to be undertaken usingEdda Freya includes subsea pre-decommissioning survey, recovery of floating production, storage and offloading mooring lines, anchor piles, risers, midwater-arch buoy and subsea structures as well as onshore disposal and recycling of the recovered items. DeepOcean’s commercial director for subsea services in the Greater North Sea, Rolf Ivar Sørdal, noted that Edda Freya was specifically designed to carry out multiple subsea operations and hence provided a cost-efficient asset to carry out the project.

Edda Freya is one of a number of vessels the Norwegian owner has decided to re-register, moving the vessel away from the Norwegian Ordinary Ship Register (NOR). Edda Freya, Edda Fauna, Edda Flora, Edda Fonn and Edda Ferd are all moving to the Norwegian International Ship Register (NIS). NIS differs from NOR in that it enables employment of foreign seafarers and wage levels established through collective wage agreements. Using NIS will reduce the company’s cost base but will mean Norwegian employees lose their jobs, although fewer Norwegian jobs will be lost than opting for a foreign flag. Several construction vessels have already reflagged to NIS in recent years.

Edda Freya
Owner Østensjø Rederi
Charterer DeepOcean
Designer Salt Ship Design
Builder Kleven
Length oa 149.8m
Breadth 27m
Main crane 600 tonnes
Accommodation 140
Carousel storage 3,000 tonnes
VLS 150 tonnes
Deck area 2,300m²
Class DNV+ 1A1, SF, E0, ICE-1C, DYNPOS-AUTR (DP3), CLEAN DESIGN, DK(+), COMF-C(3)-V(3), NAUT OSV(A)-ICS, HELDK-SH(CAA-N), BIS, TMON, CRANE, PMS, ISM
Business in Vancouver: Corvus Energy’s marine power focus pays dividends

Business in Vancouver: Corvus Energy’s marine power focus pays dividends

Richmond battery maker doubled its revenue between fiscal 2015 and 2016, topping BIV’s list of fastest-growing companies

By Aug. 25, 2016, Business in Vancouver

Given the exuberance around Tesla electric cars, it might have been tempting for a new clean-tech company specializing in rechargeable lithium-ion batteries to try to crack the electric vehicle market.

But from the outset, Corvus Energy focused primarily on marine applications – ferries and ships.

The Richmond-based company’s recent growth figures vindicate that focus. In just seven years, it has come to dominate the market for lithium-ion batteries for the marine sector, particularly in northern Europe, where more and more ferries and ships are running either partially or entirely on battery power.

“We’ve got the largest install base, by far, in marine – something approaching 70% of the installed base in the marine and offshore world is Corvus,” said Corvus CEO Andrew Morden.

Corvus tops this year’s Business in Vancouver list of fastest-growing companies. Over a five-year period, the company’s revenue has grown from $123,917 in 2011 to $6 million in 2015. Its revenues doubled from $6 million in fiscal 2015 to $11.5 million in fiscal 2016.

Founded in 2009, the company focused on developing batteries that could withstand the wet, corrosive environment of the ocean. Some of the original founders have since left to start a rival company, and the two companies are now involved in a legal dispute.

“They have started a competing entity and we are actually litigating against that entity,” Morden said. “Our view is that they’ve copied a material amount of our intellectual property.”

In 2011, Corvus received $582,467 from Sustainable Development Technology Canada (SDTC) for a hybrid electric ferry demonstration project in Norway. The SDTC funding helped leverage another $1.1 million in private funding and attract two large corporate investors.

Since then, it has come to dominate the marine market.

“We consider the project to be one of our success stories because it’s an elegant yet robust and versatile solution, especially for the incredible demands of the marine environment,” said SDTC public affairs manager Gillian Cartwright.

One of the keys to Corvus’ success was being first to market.

“The value proposition for the use of lithium ion batteries is compelling for the marine and offshore industry,” Morden said. “That market is a relatively big market. We were first to market. We were able to get market traction and, as there’s been more and more adoption, we’ve been able to ride that wave up.”

Corvus’ largest shareholder is the Oslo shipping giant BW Group. The second-largest investor is the venture arm of Statoil ASA (NYSE:STO), Norway’s national oil company.

Although the marine market is the mainstay of Corvus’ business, it has also supplied lithium-ion batteries for a number of other transportation sectors, including trains, trucks and submarines.

Morden describes his company’s approach to markets as “hourglass shaped.” It started out providing batteries for a variety of markets, narrowed in on the marine sector, mostly in Northern Europe, and is now branching out again to other “verticals” and geographic markets – notably China.

“We’ve just released our next generation of the product, which is a material change in the technology and in the thinking around the technology, and that’s expanded our horizons,” Morden said. “So now we are much more active in pursuing new verticals.”

That new generation of batteries is the Orca ESS platform, with two main product lines. One produces more power and can recharge faster, while the other can store more energy.

One Chinese port is now using Corvus batteries instead of diesel generators to power gantry cranes, and Morden said there is a big potential market for energy storage in offshore wind farms.

A number of pilot projects have also used Corvus batteries to power trains and light-rail systems.

Northern Europe – particularly Norway – has been Corvus’ most important market. Northern European countries not only have a lot of ferry traffic, due to their geography, but they also have a lot of hydro power, so it makes a lot of sense to power ferries with rechargeable batteries. Norway is such an important market that Corvus has opened an office there.

Although there has been less uptake in Canada, one company that has become a Corvus customer is Seaspan Ferries Corp., which is using Corvus batteries in two new ferries under construction that will run on liquefied natural gas and battery power.

As for the company’s head count, it has actually fallen – from a peak of 70 down to 45 – as it has moved from demonstration to commercialization.

“One of the tricks for us is to grow our revenue without growing our head count,” Morden said. “It’s more about having the right people in the right place.”

 

https://www.biv.com/article/2016/8/corvus-energys-marine-power-focus-pays-dividends/